IonKraft, an Aachen Germany-based coating machine startup, raised €3.5M in equity financing.
The round was co-led by M Ventures and TechVision Fund and joined by High-Tech-Gründerfonds.
The company intends to use the funds to expand its team and scale the production of coating machines.
Founded in 2021 by Dr. Montgomery Jaritz and Benedikt Heuer as a spin-off from the Institute for Plastics Processing (IKV) at RWTH Aachen University in Germany, IonKraft aims to make plastic packaging recyclable, free of per- and polyfluoroalkyl substances (PFAS), and to enable a circular economy in packaging with the help of plasma coating technology. Its patented technology enables packaging producers to replace millions of tons of non- recyclable multilayer or fluorinated (PFAS) packaging that cannot be recycled. Furthermore, the barrier technology can provide sufficient protection to allow the incorporation of recycled materials into packaging for sensitive, food or cosmetics products.
The company is funded by EXIST Research Transfer and the EIC Accelerator program of the European Innovation Council.
FinSMEs
18/11/2024